BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Receives $94.20 Consensus Target Price from Analysts

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Get Free Report) has earned an average recommendation of "Moderate Buy" from the twenty-three research firms that are covering the stock, MarketBeat Ratings reports. Seven analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $94.20.

Several research firms have issued reports on BMRN. Wolfe Research assumed coverage on BioMarin Pharmaceutical in a research report on Friday, November 15th. They issued an "outperform" rating and a $95.00 price objective for the company. Stifel Nicolaus reduced their price objective on shares of BioMarin Pharmaceutical from $115.00 to $87.00 and set a "buy" rating for the company in a research note on Tuesday, September 17th. Truist Financial lowered their target price on shares of BioMarin Pharmaceutical from $118.00 to $90.00 and set a "buy" rating on the stock in a research report on Tuesday, September 17th. Sanford C. Bernstein reduced their price target on shares of BioMarin Pharmaceutical from $116.00 to $90.00 and set an "outperform" rating for the company in a research report on Tuesday, September 17th. Finally, Barclays decreased their price target on BioMarin Pharmaceutical from $110.00 to $86.00 and set an "overweight" rating on the stock in a research note on Friday, October 4th.

Insider Activity

In related news, EVP Charles Greg Guyer sold 5,278 shares of the business's stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $66.37, for a total transaction of $350,300.86. Following the completion of the transaction, the executive vice president now owns 68,909 shares in the company, valued at $4,573,490.33. The trade was a 7.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.85% of the company's stock.

Institutional Trading of BioMarin Pharmaceutical

A number of hedge funds and other institutional investors have recently made changes to their positions in BMRN. Assenagon Asset Management S.A. boosted its position in shares of BioMarin Pharmaceutical by 461.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 611,667 shares of the biotechnology company's stock valued at $40,205,000 after purchasing an additional 502,695 shares during the period. Wedmont Private Capital acquired a new position in BioMarin Pharmaceutical in the fourth quarter worth approximately $430,000. First Hawaiian Bank raised its holdings in BioMarin Pharmaceutical by 1.4% during the fourth quarter. First Hawaiian Bank now owns 14,700 shares of the biotechnology company's stock valued at $966,000 after buying an additional 200 shares in the last quarter. Everence Capital Management Inc. acquired a new stake in shares of BioMarin Pharmaceutical in the fourth quarter worth $333,000. Finally, GAMMA Investing LLC lifted its position in shares of BioMarin Pharmaceutical by 57.5% during the 4th quarter. GAMMA Investing LLC now owns 1,232 shares of the biotechnology company's stock worth $81,000 after purchasing an additional 450 shares during the last quarter. 98.71% of the stock is currently owned by institutional investors.

BioMarin Pharmaceutical Stock Performance

Shares of NASDAQ:BMRN traded down $3.18 during midday trading on Tuesday, hitting $63.81. The stock had a trading volume of 1,786,352 shares, compared to its average volume of 1,219,218. BioMarin Pharmaceutical has a 1 year low of $61.15 and a 1 year high of $94.85. The company has a current ratio of 4.27, a quick ratio of 2.62 and a debt-to-equity ratio of 0.11. The stock has a 50 day moving average price of $65.80 and a two-hundred day moving average price of $74.72. The company has a market capitalization of $12.16 billion, a PE ratio of 38.21, a P/E/G ratio of 0.65 and a beta of 0.29.

BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The biotechnology company reported $0.55 earnings per share for the quarter, missing analysts' consensus estimates of $0.78 by ($0.23). The business had revenue of $746.00 million during the quarter, compared to analysts' expectations of $703.37 million. BioMarin Pharmaceutical had a net margin of 11.71% and a return on equity of 8.53%. BioMarin Pharmaceutical's revenue for the quarter was up 28.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.26 EPS. As a group, equities analysts predict that BioMarin Pharmaceutical will post 2.49 earnings per share for the current fiscal year.

About BioMarin Pharmaceutical

BioMarin Pharmaceutical Inc develops and commercializes therapies for people with serious and life-threatening rare diseases and medical conditions. Its commercial products include Vimizim, an enzyme replacement therapy for the treatment of mucopolysaccharidosis (MPS) IV type A, a lysosomal storage disorder; Naglazyme, a recombinant form of N-acetylgalactosamine 4-sulfatase for patients with MPS VI; and Kuvan, a proprietary synthetic oral form of 6R-BH4 that is used to treat patients with phenylketonuria (PKU), an inherited metabolic disease.